Oregon Public Employees lowers return assumption to 7.2%

The Oregon Public Employees Retirement Fund's board lowered the assumed rate of return for the $73 billion pension fund to 7.2% from 7.5%, said James Sinks, spokesman for the Oregon State Treasury, in an email.

The treasury, under the direction of the Oregon Investment Council, manages the pension fund's investments. The Tigard-based pension fund is administered by a separate board.

Return projections for the next 10 years are lower than in the prior decade, according to a report presented at the pension fund's July 28 meeting by its actuarial consultant, Milliman.